Embecta Q3 Net Income Declines - Quick Facts

(RTTNews) - Embecta Corp. (EMBC) reported third quarter net income of $14.7 million or $0.25 per share, compared to $15.2 million or $0.26 per share, in the prior year period. Adjusted net income was $43.0 million or $0.74 per share, compared to $39.8 million or $0.69 per share. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Third quarter revenues were $272.5 million, down 4.8% on a reported basis; and down 3.9% on a constant currency basis. Analysts on average had estimated $267.43 million in revenue.

For fiscal 2024, the company now expects adjusted earnings per share in a range of $2.30 - $2.35, revised from prior guidance range of $2.20 - $2.30.

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